Feed Flavors & Sweeteners Market to Remain Resilient in the Face of Global Economic Challenges
Feed Flavors & Sweeteners Market Overview
Feed Flavors and Sweeteners Market Size was valued at USD 2
Billion in 2022. The feed flavors and sweeteners market industry are projected
to grow from USD 2.08 Billion in 2023 to USD 2.87 Billion by 2032, exhibiting a
compound annual growth rate (CAGR) of 4.1% during the forecast period (2023 -
2032).
The growing
feed flavors and sweeteners market is profiled in detail in the report,
including analysis of the historical growth trajectory of the market to single
out the major drivers and restraints acting on the market. These are then used
to make projections for the feed flavors and sweeteners market’s growth over
the forecast period.
Feed flavors and sweeteners market research are feed additives added to enhance the flavor of feed products. The
growing demand from the animal products industry for flavored feed has been the
major driver for the global feed flavors and sweeteners market. As the animal
products industry has grown, animal welfare has become a key concern, with
several government and public platforms urging the industry to end cruelty and
make the lives of the captured animals better. One of the offshoots of this
movement to improve animal life has been the development and widespread
adoption of feed flavors and sweeteners. Feed flavors and sweeteners are seen
as crucial in providing animals enough nutrition as well as incentive to eat
their fill of the feed.
The growing
animal products industry in Asia Pacific is likely to be a major driver for the
global feed flavors and sweeteners market. Asia Pacific holds the dominant
share in the global feed flavors and sweeteners market due to the growing
demand from the animal products industry in China, India, Japan, Indonesia,
South Korea, Malaysia, and other countries in the region. Australia is a global
leader in the production of dairy and cattle meat products and thus accounts
for a significant share in the animal products industry in Asia Pacific. The
rapid growth of the animal products industry in these regions has enabled
steady growth of the global feed flavors and sweeteners market. This is likely
to remain a major driver for the feed flavors and sweeteners market over the
forecast period.
Competitive Analysis:
Leading in the global key feed flavors and sweeteners
market Players include Grupo Ferrer
Internacional SA, Solvay, Nutriad, Pancosma, Alltech, FeedStimulants, BIOMIN
Holding, DuPont, Norel, Prinova Group LLC, Agri-Flavors, Origination O2D, Kerry
Group, Pestell Minerals and Ingredients, and Kemin Industries Inc.
Segmentation:
The global feed flavors and sweeteners market report is segmented on the basis of type, source, form,
livestock, and region.
By type,
the global feed flavors and sweeteners market trends is segmented into flavors
and sweeteners. The flavors segment is further subsegmented into sweet, savory,
and others. The sweeteners segment is further subsegmented into saccharine,
glycyrrhizin, neohesperidine dihydrochalcone, and others.
By source,
the global feed flavors and sweeteners market is segmented into natural and
synthetic.
By form,
the global feed flavors and sweeteners market is segmented into dry and liquid.
By
livestock type, the global feed flavors and sweeteners market outlook is
segmented into ruminants, swine, pets, and others.
Regional Analysis:
Asia
Pacific accounted for the largest share in the global feed flavors and
sweeteners market in 2018 and is likely to remain the leading revenue generator
over the forecast period due to the growing animal products industry in
countries such as China and India. The growing demand for meat products has
been a major driver for the animal products industry in Asia Pacific, leading
to a growing demand for feed flavors and sweeteners. Dairy products have also
become vital in the Asia Pacific region, as increasing urbanization has driven
the demand for milk and other dairy products. This is also likely to be a major
driver for the feed flavors and sweeteners market in the region.
Read
More : https://www.marketresearchfuture.com/reports/feed-flavors-sweeteners-market-5402
North
America holds the second largest share in the global feed flavors and
sweeteners market, followed by Europe.
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